Bend Real Estate in the News

31 07 2008

Bend touted for home ‘bargains’ – one for $6 million


This five-bedroom, seven-bath chateau style home in Broken Top gated community can be yours for $6 million
This five-bedroom, seven-bath chateau style home in Broken Top gated community can be yours for $6 million

Broken Top home no longer priciest on the market

By Deanne Goodman, KTVZ.COM

Bend is in the national spotlight again, this time hailed as a great place to buy a home.

Tuesday’s USA Today article features one of the most expensive homes in Bend. But while the $6 million dollar Bend home was the most expensive on the market when the article was written, it was not by the time the paper hit newsstands. In that short time a more expensive home went up for sale.

With so many homes for sale right now, brokers say bargains are everywhere.

Could a $6 million home be considered a bargain? In another city definitely, but in Bend it’s among the most expensive homes ever on the market.

“With a property like this, we do need to reach out to the rest of the country and hit those high-end buyers” broker Dan Reedy said Tuesday.

The home has a wine cellar, golf course views, a media center and granite imported from Italy. Lucky for Reedy, the Broken Top property, on the market for about three months, got free national exposure in Tuesday’s edition of USA Today.

The article pinpoints Bend as a great place to buy a home. Realtors couldn’t agree more.

“It’s definitely a buyer’s market,” said Tom Greene, president of the Central Oregon Association of Realtors. But he added, “If you have to sell, you have to be realistic. Our market is down anywhere from 29 to 39 percent. ”

Sales are down as well, but Greene believes the market will bounce back in a couple of years. “We hit that $270,000 median price two months ago, and now its back to up to $315,000.”

Greene says the only drawback to buying now is facing the overwhelming decision of choosing just one.

“The problem I’m seeing with Bend is that there’s 2,300 homes on the market,” he said. “Buyers are having trouble making up their minds.”

Whether it’s a high-end home or one closer to the median price, Realtors have the challenge of luring interested buyers, even in a scenic city like Bend.

USA Today takes a look at housing markets across the U.S. each week. Las Vegas gets the attention in next week’s article.





What do you think of the Tour of Homes houses?

24 07 2008

There has been a little discussion occurring on my “If you have 1.5 Million Lying around” post.

But it has me curious as to what you all think of the houses that you have seen on the Tour of Homes this year.

As I mentioned in a couple earlier posts: I am hosting the open house at the Reserve at Broken Top but I am not the listing agent.  I have 2 lot listings in The Reserve, and will be holding open houses up there (pretty much until the end of time), but I won’t be offended by your feedback (I have some of my own in fact)

Buyer feedback is an essential aspect to selling real estate.  It keeps the seller in touch with what people (that aren’t emotionally attached to the house) actually think about the house and how it is priced.

Obviously there is a lot of media hype about the state of the real estate market, but the bottom line always comes down to the fact that houses are worth what people are willing to pay.  Asking way too much for your house to begin with, and then having to sell it for 30% less than the listing price (because that’s what someone was willing to pay) doesn’t mean that the real estate market is “bad”, it just means your house isn’t worth what you want it to be worth.

Now don’t take this to mean that I think the real estate market is booming (I think my bank account speaks to the contrary) I am simply trying to get a feel for what people like/dislike about the houses on tour this year and your opinion on their pricing.

Are you impressed?

Are you disappointed?

Do you think the homes you’re viewing are a value?

Would you want to live in those houses?

Are there any neighborhoods that stand out in your mind?

etc….





Great Investment Opportunity

23 07 2008

If you are looking to snatch up a great buy in Bend that will generate some cash flow then I have just the property for you.

This turn-key vacation rental is located at the top of the Old Mill District in Bend. a 2 minute walk to the movie theater and shops and a 5 minute walk (carrying a flotation device) to the Deschutes River.

The owners are investors with too many properties and they just need to dump one – It comes fully furnished and all of the reservations that are on the book are yours as well.

It is a fully functioning business with a website. Listed at $244,900
Contact me if you have any questions, or would like more information, or want to see the property.





2008 COBA Tour of Homes

16 07 2008

The time has come once again for the Central Oregon Builders Association’s Tour of Homes

July 18,19,20 and July 25,26,27, 2008

20th Annual Central Oregon Builders Association Tour of HomesTM

The Central Oregon Builders Association (COBA) is pleased to present the 20th Annual 2008 Tour of HomesTM sponsored by Columbia River Bank. The field of 73 homes is set for the 2008 Tour, and we anxiously await the tour dates of July 18, 19, 20 and July 25, 26, 27. Hours for the tour this year will be the same as past years Fridays Noon – 6, Saturdays & Sundays 10-6. Remembering that it will be the height of summer, we advise attendees to dress appropriately and to bring plenty of water in their cars.

The 20th Annual 2008 Tour of HomesTM tour guide will be available in each Tour home as well as being delivered in The Bulletin right before the Tour begins. If you are interested in advertising in the tour guide please contact The Bulletin at 382-1811.

The 20th Annual 2008 COBA Tour of HomesTM is annually presented in July with the generous support of our sponsors. The 20th Annual 2008 Tour of HomesTM is sponsored by Columbia River Bank, and supported by Earth Advantage, The Garner Group, W.L. May Company, Robberson Ford, Deschutes Heating & Cooling, Central Oregon Cable Advertising, The Bulletin, and KOHD News.

The 20th Annual 2008 Tour of HomesTM field is set at 74 homes. Our second largest Tour! Prices on the Tour range from $207,950 to $3,200,000!

I will be holding The Reserve At Broken Top open every day of the tour (Friday 12-6, Saturday 10-6 & Sunday 10-6)

Please come see me!





Wednesday is Neighborhood Preview Day #3

30 04 2008

This weeks featured neighborhood is Woodhill Homes’ Woodhill Park.

Woodhill Park

The first energy-efficient Responsible Home community by Woodhill Homes located on the northeast (NE) side of Bend, Oregon. This Woodhill Homes neighborhood includes 10 home plans to choose from ranging between 1,460 sf and 2,111 sf – all with options for different elevations. It has a convenient location, a neighborhood park and all starting under $200,000.

Model Home Tours (Office Hours):

  • Friday-Sunday: 12-5
  • Monday – Thursday: Closed

Directions to Woodhill Park:

(The nearest intersection to the Woodhill Park development is Empire Ave & Boyd Acres Rd)

  • Hwy 97 to Empire Avenue exit
  • East on Empire to Boyd Acres Road
  • North on Boyd Acres
  • Left on Gloucester
  • Right on Lancaster
  • Left on Avro Place

Prices range from $199,950 for 1280 sq. ft. to $244,950 for 1653 sq. ft.





Wednesday is NEIGHBORHOOD PREVIEW day

16 04 2008

I mentioned in my first post that I would providing information on affordable housing opportunities in Bend, and now is that time!

Every Wednesday will be Neighborhood Preview Day here at Be In The Know, these won’t necessarily always be “affordable” housing options (which I might add I think is a ridiculous term.. what’s affordable to me is certainly different then what’s affordable to Bill Gates, so who decides what “affordable” is anyway?) So, I’ll reword: these won’t necessarily always be neighborhoods that are offering homes at a lower cost than the median home price… but since my focus as a real estate agent is buyers, and my demographic is mostly young first-time homebuyers, I will highlight these neighborhoods as often as possible.

This weeks focus is on The Reserves At Pilot Butte – for those of you who may have driven past them and not known what you were looking at, these are the condos that are across the street from Pilot Butte Cinemas (slightly farther East on Hwy 20).

The Reserves @ Pilot Butte is a forty-two unit condo community ranging from $144,900 for 769 sq. ft up to $206,400 for 1567 sq. ft.

All of the units come standard with hardwood floors, granite counters, stainless steel appliances, and tile in the bathrooms. These are high-end finishes that you almost never see in starter homes.

As I alluded to before, there are opportunities to buy in Bend that will cost you little (if any) more than you currently pay in rent… unless you rent from your parents, in which case: live it up while you can!

For instance, say you make an offer on the smallest condo available in The Reserves (let’s say you even make a full price offer.. which hardly anyone is doing these days..)

Purchase Price: $144,900
Interest Rate: 6%
Mortgage Type: Standard 30 year Fixed (if you did an ARM you could get an even lower monthly payment, but for the purposes of this illustration we’ll use the most standard type)
Monthly Payment: $868.75

now.. the fact that these are condos puts a little hiccup in this math because condos traditionally have high HOAs (Home Owner Association dues). The Reserves at Pilot Butte, for instance, charge $201 a month in HOA dues.. BUT.. keep in mind that this covers the cost of maintaining the exterior of the buildings, landscaping, upkeep of the roads, maintaining the fencing, street lights, signage, trash service, porches, gutters, paint, decking, siding, roofing.. the list goes on and on. And these are all things that you normally have to pay for as a homeowner.

So.. GRAND TOTAL to purchase a condo in the Reserves at Pilot Butte….

$1069.75

Now, if you remember from my first post.. this comes with benefits that you don’t get from renting:
At least $700 of that (especially in your first few years) would all be interest payments on your mortgage which is… say it with me folks… all tax deductible.

So, if you are paying taxes on $700 less a month, you’re actually saving roughly $233.33 a month on taxes (which pays for the HOA dues and then some)

Ok, that concludes this weeks Neighborhood Preview Day.. So I’ll wrap it up with some pictures of The Reserves at Pilot Butte:

The Bulletin’s Article on The Reserves @ Pilot Butte





When is the right time to plant flowers in Bend?

15 04 2008

Ok, we’re all a little sick of winter by this point, right? If you are anything like me then you’re ready for your yard to have some color other than brown (which is pretty much the standard color in Bend). We recently purchased some Burning Bushes and some perennials so I’ve been doing some research to find out when the best time to plant them would be.

And since landscaping is a large part of curb appeal, which is a large part of real estate I figured this topic was pertinent to my blog.

Annuals vs. Perennials…

Keep in mind that most annuals do not tolerate frost, and transplants will do better if planted into soil that has a bit of time to warm up after that cold winter. Many hardy perennials however can be planted quite early in the spring, especially if they have been kept outdoors at the nursery and are well acclimated to the weather, or if you receive them as bare root plants — meaning unpotted plants with their roots washed clean. (Perennials can also be planted in the fall with great success.) If you aren’t sure, check out What’s An Annual, What’s A Perennial.

You have plenty of time…

You have an extended window of time, there is no critical “plant by” day to worry about in the spring although planting should be finished by late spring/early summer and as a general rule earlier is better. We tend to want to plant as early as possible, and we see those colorful flowers for sale and can’t resist getting started. But if you transplant too early, you may lose your flowers to frost or a freeze, so be cautious (although we never get random late freezes in Bend.. right?) Some years, planting time runs earlier and some years later, it depends on the weather.

If you have to wait..

If it really is too early to plant, hold your plants in their containers in a sheltered spot outdoors and protect from frost until your weather settles. A spot with morning sun and protection from the wind is good. Bring them into a garage or other cool but protected place at night so they do not freeze. Remember to water them so the soil stays damp while you are waiting to plant them. Do not try to hold them indoors.

And thus, the sad sight of our 5 beloved Burning Bushes being held captive in the garage.

Hope this was helpful.